New York State Common Retirement Fund Reduces Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

New York State Common Retirement Fund lowered its holdings in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 390,874 shares of the financial services provider's stock after selling 82,081 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Nasdaq worth $29,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NDAQ. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Nasdaq in the first quarter worth about $222,000. IFC Advisors LLC increased its position in Nasdaq by 5.9% in the first quarter. IFC Advisors LLC now owns 4,071 shares of the financial services provider's stock worth $309,000 after buying an additional 227 shares in the last quarter. Xponance Inc. grew its position in shares of Nasdaq by 0.7% during the first quarter. Xponance Inc. now owns 92,992 shares of the financial services provider's stock worth $7,054,000 after purchasing an additional 619 shares in the last quarter. LBP AM SA grew its position in shares of Nasdaq by 15.8% during the first quarter. LBP AM SA now owns 549,693 shares of the financial services provider's stock worth $41,700,000 after purchasing an additional 75,106 shares in the last quarter. Finally, Greenleaf Trust grew its position in shares of Nasdaq by 3.4% during the first quarter. Greenleaf Trust now owns 12,060 shares of the financial services provider's stock worth $915,000 after purchasing an additional 397 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NDAQ. Piper Sandler reiterated an "overweight" rating and set a $97.00 target price (up previously from $83.00) on shares of Nasdaq in a research report on Tuesday. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on Nasdaq from $87.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Oppenheimer reissued an "outperform" rating and set a $101.00 price target (up from $96.00) on shares of Nasdaq in a research note on Tuesday. Finally, UBS Group increased their price target on Nasdaq from $82.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $92.63.

Nasdaq Stock Down 0.9%

Shares of NASDAQ:NDAQ traded down $0.85 on Friday, reaching $89.10. The company had a trading volume of 5,639,916 shares, compared to its average volume of 3,090,090. Nasdaq, Inc. has a 52-week low of $62.21 and a 52-week high of $90.84. The firm's 50 day simple moving average is $85.71 and its 200-day simple moving average is $80.04. The firm has a market capitalization of $51.15 billion, a PE ratio of 40.49, a PEG ratio of 2.14 and a beta of 1.01. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Nasdaq had a return on equity of 15.38% and a net margin of 16.36%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $0.63 EPS. The business's revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.27 dividend. This is a boost from Nasdaq's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.21%. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

Insiders Place Their Bets

In other Nasdaq news, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the sale, the insider owned 211,405 shares of the company's stock, valued at approximately $17,552,957.15. The trade was a 3.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley J. Peterson sold 11,508 shares of Nasdaq stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total value of $1,022,715.96. Following the sale, the executive vice president directly owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This represents a 9.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,613 shares of company stock valued at $1,874,659. 0.70% of the stock is owned by company insiders.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.